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Advertiser Disclosure: Many of the savings offers appearing on this site are from advertisers from which this website receives compensation for being listed here. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). These offers do not represent all deposit accounts available.

Amtrust Direct Online Banking

Rate This Bank : 1 Stars 2 Stars 3 Stars 4 Stars 5 Stars 2.55  (20 User Voted)

AmTrust Direct Review

AmTrust Direct is an online bank that specializes in web-based CD accounts.

AmTrust Direct is an Internet bank whose parent bank, AmTrust, was headquartered in Cleveland, Ohio, until 2009. At that time, the Ohio bank went bankrupt and New York Community Bank took over its accounts. New York Community Bank was founded in 1859. Some NYCB branches throughout the nation retain the AmTrust name as does the online AmTrust Direct bank.

Online CDs

AmTrust Direct specializes in the online CD. This allows web customers a fast and easy method of opening a CD. It is possible to open a CD with this bank with a minimum of $1000. CD account periods can be as short as six months or as long as five years. An automatic CD renewal option is available. Online banks typically have lower overhead costs and can offer a higher interest rates than brick-and-mortar institutions.

Other accounts

Although this bank specializes in CDs, it does also offer other types of accounts including an online money market account and an online savings account. The bank allows easy transfer of funds between accounts for people who wish to open a CD using the money in their online savings account. AmTrust does not offer a checking account.

Deposit insurance

AmTrust Direct deposits are FDIC-insured to a maximum of $250,000 per depositor.

  • Account Type
  • APY
  • Adverstiser Comments
  • Money Market
  • 0.10%
    Min to Earn APY: $1
  • Earn More Money Market Account - Rate earned on balances up to $4999.99- new money only.
  • CD Rates
  • 12 Month CD.
  • Term
  • APY
  • Min. To Earn APY
  • Compounding Method
  •  
    • 1 year
    • 1.05%
    • $0
    • Compounding Daily
7 Responses to "Amtrust Direct Online Banking"
  1. Mac Jones October 17, 2014 at 9:07 am

    I tried to contact Doreen Rast, the top executive at AmTrust Bank in Arizona. After leaving two voice mail messages to please return my call, I was ignored. I wanted to discuss the fact that none of the tellers at the Chandler Road branch and at the Ray Road/I-10 branch was capable of processing a simple deposit or intra-bank transfer of funds within less than 30 minutes. I wonder if the computer system used by AmTrust is so complicated and difficult to operate that new tellers, which these employees were, need multiple months of training in order to operate the system. It was a very frustrating situation for me, since I had banked with AmTrust for over 5 years and always received excellent service at my Chandler Road branch, until AmTrust transferred all of the competent bankers to Scottsdale branches and left my branch with a few inept rookies. After I complained to the branch manager about the poor service and the inexplicable delays in processing even the most simple of deposits (all cash), the "back office" and "security department", as the branch manager warned me, determined to close all 5 of my and my wife's accounts at AmTrust within two weeks, in spite of my requesting enough time for my direct deposit arrangements (such as my Social Security monthly benefit) to be changed over to Bank of America, where all of my accounts have been relocated. I am a retired old man and can't afford to not receive my Social Security benefit each month, but AmTrust Bank didn't care. They decided that instead of doing something positive about their incompetent tellers, they would simply get rid of an unhappy customer. The AmTrust branches I visited were always completely empty, except for the employees. Perhaps they took so long to process my banking transaction because they needed something to do to keep from climbing the walls out of boredom. I, for one, strongly recommend anyone whose time is valuable to them to avoid AmTrust Bank. There are other, better alternatives out there for someone looking for a bank where they can consistently expect good, efficient service, caring management and the benefits associated with banking at a large and well-established institution, instead of a bank that almost went bankrupt and with few locations, where your time is considered to be of little consequence. A word to the wise: AVOID AMTRUST BANK.

  2. gerald mogolowitz June 06, 2013 at 7:31 am

    cant seem to get in contact with my accounts anymore. what happened? answer me soon.

    1. Samuel, SA moderator June 13, 2013 at 3:12 pm

      Gerald: I'd recommend contacting your bank directly.

  3. Isabel Silva May 03, 2013 at 12:58 pm

    I am in Europe and I am not able to check my account. Please advise. Thank you

  4. Barbara Freeman April 22, 2013 at 11:59 am

    I am trying to chane my address on my account.

    1. Samuel, SA moderator April 25, 2013 at 5:39 pm

      Barbara, I'd recommend contacting your local branch by phone.

  5. pam woodward April 09, 2013 at 6:05 am

    leave the dam sign alone it keeps changing i'm changing banks if it change one more time

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Advertiser Disclosure: Many of the savings offers appearing on this site are from advertisers from which this website receives compensation for being listed here. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). These offers do not represent all deposit accounts available.